10 easy invoicing tips

To make sure your sales translate into payment, business owners need to ensure they stay on top of their bookkeeping and invoicing.

Your invoice can play a vital role to the success of your SME so we've sourced 10 easy invoicing tips that can help improve the cash inflow to your business.

1. Include all information

The more information and detail your invoice has, the smaller the opportunity your customer has to delay payment. Make sure your invoice has all information clearly displayed, such as date issued, due date of payment, payment owing and contact details of your company. The easier it is for your customer to navigate, the better chance you have of receiving payment.

2. Add a unique invoice number

This is especially important if you struggle to keep on track of your paperwork and receipts. Providing a unique invoice number will make communication with your customers much easier as you will be able to locate and navigate receipts based on the number on their invoice.

3. Establish payment terms

It's essential you establish your payment terms with your customers from the very beginning and include the terms in the invoice you send through to your customer. More importantly, once the terms have been agreed make sure you stick to them. Follow up if you are left waiting for payment for an extended period. If you feel a bit lost setting payment terms, here are some tips that can help.

4. Invoice immediately

It's beneficial to both you and your customers to send the invoice out while it's fresh in both your minds. The longer you leave it the more likely you are to forget to send it and your customer is to forget what it's for.

5. Email your invoices

One way to ensure your customers receive their invoices immediately is to send it in PDF form via email. More and more customers are turning to paperless billing as it is more convenient for them to receive their invoice electronically. The most important thing is that you check with your customers first and ensure that an email invoice is ok with them.

Click here for more information about how email can benefit your business.

Read on for five more tips >>

 

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